Providence St. Joseph Health Acquires Blockchain-Enabled Revenue Cycle Solution

Providence St. Joseph (Providence) recently announced it has acquired blockchain-enabled revenue cycle solution Lumedic. Blockchain refers to a list of records—known as blocks—that are linked together using cryptography, making them resistant to modification of data.

It is anticipated that the transaction will help Providence efficiently collect, analyze, and distribute claims and billing, as well as better manage its overall revenue cycle operations. As part of its future plans, Providence will be forming a new organization to maintain Lumedic’s brand, particularly as Providence continues to explore possible new partnerships and acquisitions going forward.

Providence St. Joseph Health . . .